Michigan Broke Marijuana Sales Record In April, State Data Shows

Michigan Broke Marijuana Sales Record In April, State Data Shows
MJ moment

Michigan broke a marijuana sales record in April, with nearly $200 million in cannabis purchases, state data shows. The state saw about $168 million in recreational marijuana sales and $27 million for medical cannabis, for a total of nearly $195 million. Andrew Brisbo, executive director of the state Cannabis Regulatory Agency (CRA), broke down the numbers, which showed a notable dip in medical marijuana sales compared to a year ago (down 44 percent) and a significant increase in adult-use purchases (up 60 percent) in that timeframe. April's record marijuana sales in Michigan resulted in $19.5 million in excise tax revenue invested in roads, schools, and local governments across the state. In addition, nearly $13 million also collected into the general sales tax bucket. That's one month. https://t.co/ruPIXWZor8 — David Harns (@DavidHarns) May 10, 2022 While the state didn’t speculate about the reasons for this April’s record sales figures, it is the case that April 20 is the unofficial cannabis holiday. Last month’s haul generated $19.5 million in excise tax revenue that the state can use to fund roads, schools and local governments. That’s in addition to $13 million in general sales taxes generated by cannabis sales. Brisbo also pointed out that the new sales record was set last month “despite the fact that the average retail flower price (ounce) dropped from $203.91 in April 2021 to $123.54 in April 2022 for medical sales and from $245.99 to $133.19 for adult-use sales.” On the medical side of the industry, there are currently 1285 active licenses (459 provisioning centers) and 161 municipalities have opted in. On the adult use side, there are now 1412 active licenses (500 retailers) and 119 municipalities have opted in. 3/3 — Andrew Brisbo (@AndrewBrisbo) May 10, 2022 Meanwhile, Michigan officials announced in March that it would be…

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